Industry News

Houston real estate posts strong January

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

The Houston real estate market continued strong in January as sales continued double-digit annual growth and prices set a monthly record, according to statistics released by the Houston Association of Realtors. Total property sales, which includes single-family homes, townhomes, multifamily homes, country homes, high-rise properties and lots listed on the MLS, totaled 4,584 in January, up 16.4 percent from a year ago. The overall median price of single-family homes reached a record for the month of January at $138,110, which was an increase of 4.4 percent compared to the year-ago price. The median is a typical market price where half of the homes sold for more and half sold for less than that figure. "The greater Houston housing market should never be underestimated, as real estate has been one of the reliable backbones for the local economy for quite some time," said Lorraine Abercrombie, HAR chair and marketing & project manager for Greenwood King Properties. "Signs are alread...